Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Apple unveils new iPad, updates Mini ahead of video streaming launch

Published 03/18/2019, 09:59 AM
Updated 03/18/2019, 09:59 AM
© Reuters. FILE PHOTO: Logo of Apple is seen at a store in Zurich

© Reuters. FILE PHOTO: Logo of Apple is seen at a store in Zurich

By Sonam Rai

(Reuters) - Apple Inc (NASDAQ:AAPL), in a surprise move on Monday, launched a new 10.5-inch iPad Air and updated its iPad Mini ahead of a March 25 event where it is expected to launch a television and video service.

So far in its annual March event, Apple has been making announcements related upgrades for its product lines, but this year the focus is likely to shift to services, especially after it reported its first ever drop in iPhone sales in January.

The new iPad models, geared with Apple's latest A12 Bionic chip and support for Apple Pencil and Smart Keyboard, are already available for order at apple.com and in the Apple Store app in the United States and the United Kingdom, along with a few other countries.

"That it announced the new lineup in advance of next week's event suggests it wants to focus on the content next week over hardware," DA Davidson analyst Tom Forte said.

"Refreshing its lower-end lineup in advance of its streaming video content announcement next week speaks to the potential for Apple in streaming video content, with a strong installed hardware base, iPhones, iPads and Macs."

The 10.5-inch iPad Air, starts at $499 for the 64GB WiFi model and $629 for the WiFi plus cellular model. The new iPad mini starts at $399 for the WiFi model and $529 for the WiFi plus cellular model, the iPhone maker said in a statement.

With the new launch, the iPad will come in four different screen sizes, ranging from 7.9 inch to 12.9 inch.

"More iPad sales won't make a big impact on the company's enormous bottom line, but it can help to show consumers and investors that Apple still has the ability to create popular devices and features," said Clement Thibault, a senior analyst at Investing.com.

In the year ended September 2018, Apple made about $19 billion in revenue from iPad sales, a very small portion compared with the nearly $167 billion it generated from the sale of iPhones.

Shares of Apple rose 0.63 percent at $187.22 on early Monday trading.

(This story has been refiled to correct to 'iPhone' in paragraph 2)

© Reuters. FILE PHOTO: Logo of Apple is seen at a store in Zurich

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.